Federal Home Loan Bank of Atlanta Awards $11.7 Million for Development of 1,900 Affordable Housing Units

Grants will enable developers to complete multifamily rental projects and increase affordable housing supply

ATLANTA, Jan. 12, 2026 (GLOBE NEWSWIRE) -- Federal Home Loan Bank of Atlanta (FHLBank Atlanta) is awarding a total of $11.7 million in grant funding to 32 affordable housing projects submitted by 21 member financial institutions and 30 project sponsors through its 2025 Multifamily Housing Bridge Fund (Bridge Fund). Once the projects are complete, they will collectively create and preserve a total of 1,933 affordable housing units.

The program, which was first introduced by FHLBank Atlanta in 2023, provides up to $500,000 to multifamily rental projects to assist with funding gaps resulting from the rise in construction costs.

For the list of 2025 Bridge Fund winners, click here.

“When multifamily housing projects are delayed due to funding gaps, there is a direct impact on the community’s availability of safe, affordable homes,” said FHLBank Atlanta President and Chief Executive Officer Reggie O’Shields. “Given the program’s success in 2023, we are expanding the amount we are allocating to this program to help more projects wrap up construction and become homes that improve lives and strengthen neighborhoods.”

Awarded projects were at least 50% finished at the time application, ensuring that the Bridge Fund awards support their completion. Projects include multifamily and mixed-use rental housing for households earning up to 80% of the Area Median Income.

“The developments awarded Bridge Funds reflect the diverse housing needs across our district, from projects in rural communities to those serving older adults to adaptive reuse opportunities,” said Tomeka Strickland, Director of Community Investment Services for FHLBank Atlanta. “The Bridge Fund also supports initiatives to rehabilitate existing multifamily communities, since both new construction and preservation are essential to increasing housing supply.”

Each project receiving a Bridge Fund is located within FHLBank Atlanta’s district, including Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. Developers and sponsors worked with FHLBank Atlanta member financial institutions to complete funding applications.

About the Federal Home Loan Bank of Atlanta
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank's members are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district banks in the Federal Home Loan Bank System. Since 1990, the FHLBanks have awarded approximately $7.6 billion in Affordable Housing Program funds, assisting more than one million households.

CONTACT: Sheryl Touchton
Federal Home Loan Bank of Atlanta
stouchton@fhlbatl.com

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